India’s mining industry, which was last valued at Rs. 2.8 lakh crore, utilizing a treasure trove of over 95 minerals, is the country’s second largest employment generator. It is therefore unsurprising that reforms in the mining sector are a priority in the government’s ‘Atmanirbhar Bharat Abhiyan’ package.
India’s federal structure vests the right to regulate mining in both the centre and the state [Ref: Entry No. 54 of List 1 r/w Entry No. 23 of List 2 in Seventh Schedule of Constitution of India, 1950], with the power of the state being subject to the control assumed by the centre. This has often resulted in stalemates in reforms due to the lack of consensus/coordination between the states and the centre.
Please click here to read the full article by Abhishek Munot, Kunal Kaul and Samikrith Rao, published in BW Legal World.